Waaree Energies IPO: Latest GMP Revealed, Price Band Set Ahead of October 21 Opening – Don’t Miss the Big Listing Buzz

The Waaree Energies IPO is set to open on Monday, October 21, and will close on Wednesday, October 23. Allocation details for anchor investors will be released later today (Friday, October 18). The price range for the IPO has been set between ₹1,427 and ₹1,503 per share, each with a face value of ₹10.

For the IPO, 50% of shares are reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 35% for retail investors. Additionally, employees have a reserved portion, with a maximum of 650 million shares allocated to them.

Waaree Energies Limited, founded in December 1990, is a solar PV module manufacturer with a total installed capacity of 12 GW. The company produces a variety of solar products, including Multicrystalline, Monocrystalline, and TopCon modules, with flexible bifacial options (Mono PERC) in both framed and unframed versions, as well as Building Integrated Photovoltaic (BIPV) modules.

Some of the company’s competitors include Websol Energy System Ltd and Premier Energies Ltd, which has a P/E ratio of 151.13.

In the financial years ending March 31, 2024, and March 31, 2023, Waaree Energies reported a 70% increase in revenue and a 155% rise in profit after tax (PAT).

Grey Market Premium (GMP)

Let’s take a look at what the grey market premium (GMP) indicates for Waaree Energies ahead of the IPO.

As of today, Waaree Energies’ IPO GMP stands at ₹1,330. This means that shares are trading at a ₹1,330 premium in the grey market, according to investorgain.com.

With the IPO price range set at the upper limit of ₹1,503 and the current GMP, the estimated listing price for Waaree Energies shares could be ₹2,833 per share, representing an 88.49% gain.

In the past five sessions, the GMP has been trending upwards, suggesting a strong listing is likely. Experts at investorgain.com report that the GMP has ranged from ₹0 to ₹1,545.

The grey market premium reflects how much investors are willing to pay over the IPO price.